Show cause notice
This query is : Resolved
CA Anita Jaiswal
(Querist)
14 July 2013
hello .
My clent has rec Show Cause notice for AY 2010-11 in the yr 2013, he had rec about 4-5 notices from IT Dept.. but has not informed me about the said notices from IT Dept.
CASE
He has tfd huge amt of cash in yr 2009-10 and IT Dept based on the info given by AIR asked him to produce some Passbook Copy but the client did not informed me abut the leeter ,,,,n now after 4 notice IT Dept is asking for Penalty of Huge money along with Int ......
Now he has approached me...so what to do..
my client is not too educated... so can I write a letter to It Dept that he is not aware of the letter n can i asked them to restart again......
pls Advice
My clent has rec Show Cause notice for AY 2010-11 in the yr 2013, he had rec about 4-5 notices from IT Dept.. but has not informed me about the said notices from IT Dept.
CASE
He has tfd huge amt of cash in yr 2009-10 and IT Dept based on the info given by AIR asked him to produce some Passbook Copy but the client did not informed me abut the leeter ,,,,n now after 4 notice IT Dept is asking for Penalty of Huge money along with Int ......
Now he has approached me...so what to do..
my client is not too educated... so can I write a letter to It Dept that he is not aware of the letter n can i asked them to restart again......
pls Advice
CA Harsh Jain
(Expert)
16 July 2013
Kindly use Section 44AD of income tax act.
you have to show all cash as sales of retail business & 8 % will be taxable.
I have do the same in one of my case.
Ca Harsh Jain
Harsh R Jain & Associates
you have to show all cash as sales of retail business & 8 % will be taxable.
I have do the same in one of my case.
Ca Harsh Jain
Harsh R Jain & Associates
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